Ownership Change and Deterioration of Performance in Post-IPO Period: A Panel Data Analysis of Indian Firms
The IUP Journal of Corporate Governance, Vol. XI, No. 2, April 2012, pp. 24-37
Posted: 13 Oct 2012
Date Written: 2012
The study investigates the relationship between changes in insider’s ownership around Initial Public Offering (IPO) and post-IPO performance deterioration of Indian firms. The univariate analysis shows that the performance of Indian public firms deteriorates significantly in post-IPO period. The relationship between ownership and performance is then analyzed through a, multivariate analysis of panel data. The results show that the change in ownership is responsiblem for the deterioration in post-IPO performance.
Suggested Citation: Suggested Citation